Sun Pharma To Open New Headquarters In Princeton Area: NJEDA

PRINCETON, NJ – Sun Pharmaceuticals, one of the world’s largest generic pharmaceutical companies, will be building a new U.S. headquarters in Princeton, with help from a tax credit award under the state’s Emerge program.

The New Jersey Economic Development Authority (NJEDA) Board approved tax credits under the Emerge Program to support Sun Pharmaceutical Industries Inc.’s plan to open a new headquarters located at 750 College Road East in Princeton.

Although the address says Princeton, the location is within the bounds of Plainsboro. The 100,000 square feet Class A office building will feature modern infrastructure, new, upscale technology, and a collaborative work environment to fuel innovation.

The new location will create 220 new jobs and keep hundreds of jobs in the state, including the 230 that are in its current headquarters, the NJEDA said.

Sun Pharma specializes in pharmaceutical and medicine manufacturing and is the fourth largest specialty generic pharmaceutical company in the world.

The Emerge Program will award $748,000 in tax credits yearly for seven years, totaling $5,236,000 to support the opening of the new headquarters. As part of the program’s requirements, Sun Pharma will also remain in New Jersey for a minimum of 11 years.

The new headquarters will house a total of 450 corporate jobs, almost doubling the number of employees based out of the current headquarters.

“New Jersey has long been the medicine chest to the world, helping bring lifesaving pharmaceuticals to the marketplace,” Gov. Phil Murphy said.

“Securing a new headquarters location for Sun Pharma is another mile marker in our state’s history and a sign that New Jersey continues to be at the forefront of health care innovation. The increased economic activity created by Sun Pharma will help bolster our economy and build a stronger future for the Garden State.”

With more than 600 employees already working at locations across New Jersey, including its Princeton headquarters and facilities in Cranbury and New Brunswick, Sun Pharma has been scouting new locations large enough to house several hundred additional employees.

The company had considered an alternate site in Horsham, Pennsylvania. However, approval of the Emerge tax credits played a big role in the company’s decision to choose New Jersey, as well as its talent pool and proximity to colleges and universities.

“From Genmab to Sun Pharma, the Emerge Program is having a major impact on cutting-edge companies choosing to do business in New Jersey,” said NJEDA Chief Executive Officer Tim Sullivan. “Along with our talent pool and prime location, New Jersey is poised to welcome more innovators and entrepreneurs to our state.”

Sun Pharma’s products cater to a vast range of therapeutic segments covering psychiatry, anti-infectives, neurology, cardiology, diabetology, gastroenterology, ophthalmology, nephrology, urology, dermatology, gynecology, respiratory, oncology, dental, and nutritional.

The company has over 41,000 employees in 100 locations worldwide, and its recent global revenue is $5.8 billion. In the U.S., it has nine offices with 1,527 employees.

“With our long history as a valued corporate member of the state of New Jersey and the Princeton community, Sun Pharma is proud to participate in the Emerge Program,” said Abhay Gandhi, CEO Sun Pharma North America. “As we continue to bolster investments in our innovative medicines, generics and consumer medicines businesses, we look forward to seeing the positive impact our growth will have for New Jersey, the Princeton community and the patients we support.”

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